FormFactor (NASDAQ:FORM) Sets New 1-Year Low – Here’s Why

FormFactor, Inc. (NASDAQ:FORM)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $32.46 and last traded at $33.40, with a volume of 105346 shares traded. The stock had previously closed at $32.96.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. TD Cowen decreased their price objective on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a report on Thursday, October 31st. B. Riley downgraded shares of FormFactor from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $64.00 to $34.00 in a report on Thursday, February 6th. Citigroup raised shares of FormFactor from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $44.00 to $51.00 in a report on Monday, January 6th. Evercore ISI cut their target price on FormFactor from $50.00 to $43.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of FormFactor in a research note on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, FormFactor presently has an average rating of “Hold” and an average target price of $48.50.

FormFactor Trading Up 1.0 %

The business’s 50 day moving average is $40.97 and its two-hundred day moving average is $42.92. The company has a quick ratio of 3.83, a current ratio of 4.61 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $2.58 billion, a P/E ratio of 37.42 and a beta of 1.07.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings data on Wednesday, February 5th. The semiconductor company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.14). FormFactor had a net margin of 9.12% and a return on equity of 5.93%. Analysts expect that FormFactor, Inc. will post 0.9 EPS for the current year.

Insider Activity at FormFactor

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $44.44, for a total value of $177,760.00. Following the sale, the chief executive officer now directly owns 522,531 shares in the company, valued at approximately $23,221,277.64. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 12,000 shares of company stock worth $496,040 over the last ninety days. 0.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FormFactor

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio bought a new stake in FormFactor in the fourth quarter worth about $27,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in FormFactor by 45.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 164,585 shares of the semiconductor company’s stock worth $7,242,000 after acquiring an additional 51,487 shares in the last quarter. Vident Advisory LLC raised its position in FormFactor by 21.5% in the fourth quarter. Vident Advisory LLC now owns 6,140 shares of the semiconductor company’s stock worth $270,000 after acquiring an additional 1,088 shares in the last quarter. Soviero Asset Management LP bought a new stake in FormFactor in the fourth quarter worth about $3,256,000. Finally, State of Wyoming raised its position in FormFactor by 214.6% in the fourth quarter. State of Wyoming now owns 9,680 shares of the semiconductor company’s stock worth $426,000 after acquiring an additional 6,603 shares in the last quarter. 98.76% of the stock is currently owned by institutional investors.

About FormFactor

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, metrology systems, thermal systems, and cryogenic systems to semiconductor companies and scientific institutions in the United States, Taiwan, South Korea, China, Europe, Japan, Malaysia, Singapore, and internationally.